March 2009 Tax Table Revision

As of 3/22/09, we now have revised US Federal tax tables, with a few withholding changes because of the Making Work Pay tax reduction that is part of the stimulus package. You can either import the new federal tables, or type them in. Either updating method will take just a few minutes to complete.

NOTE-- If you haven't yet imported the 2009 tax tables for your state, just do a regular payroll update, which will also update the tax tables for your state.

Importing Revised Federal Tables

If you have previously downloaded 2009 tables, it's probably quicker just to type in the changes in the new withholding tables. However, you can also download and import the new federal tax tables, if you prefer. Importing the new tax tables is a two step process that is very similar to the update you made in January.

Downloading Revised Tables

To download revised US Federal tax tables, follow these steps if you have Windows:

1. Click the link to download the new tax tables.
2. Save the file (2009RevisedWin.zip) onto your hard drive.
3. Use WinZip to open the file. Extract the Federal-Revised file, and save it in My Documents or some other place you will remember.
4. If you have Windows XP, Vista or 7, you can also double-click on the 2009RevisedWin file to see its contents, and then drag the Federal-Revised file out of the zipped folder and into My Documents, or some other place you'll remember.

To download revised US Federal tax tables, follow these steps if you have Macintosh:

1. Click the link to download the new tax tables.
2. Save the file (2009RevisedMac.zip) onto your hard drive.
3. Drag the file icon onto the Stuffit Expander icon to decompress it. That will give you a Federal-Revised file on your hard drive, at the same location where you downloaded the file from step 1.

Installing Payroll Tax Tables

To bring the revised federal tax tables into the Goldenseal payroll accounting software, follow these steps:

1. Open your company file with Goldenseal.
2. Choose Import from the File menu, and choose Payroll Update from the submenu.
3. "Navigate" to the place where you saved the update file, open the folder, and choose the Federal-Revised file. Click OK.
4. Goldenseal will automatically replace your current tax tables with the new info.

Typing in New 2009 Tables

There are only a few changes needed in the revised 2009 tables, and you may find that it's quicker to just type them in. To do so, follow these steps to enter the new single taxpayer rates:

1. Open your Goldenseal company file.
2. Choose Payroll Setup from the Costs menu, and choose Tax Tables from the submenu.
3. Click on the Federal Single tax table, then click Edit.
4. Type in numbers to match the screen shot below. You'll need to change the numbers that are hilighted in yellow.
5. Click OK.

Next, type in the married rates:

1. Click on the Federal Married tax table, then click the Edit button.
2. Type in numbers to match the screen shot below. You'll need to change the numbers that are hilighted in yellow.
3. Click OK.

If you give employees a credit for EIC, you'll also need to change one more table. To enter EIC table revisions for married employees, follow these steps:

1. Click on the Advanced EIC Payment-- Married tax table, then click the Edit button.
2. Type in one revision, to match the screen shot below. You'll need to change the number that is hilighted in yellow.
3. Click OK.

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